Ransomware in 2016

Published | March 1st, 2017

Ransomware is defined as “a type of malicious software designed to block access to a computer system until a sum of money is paid.” Many Central Ohio companies have fallen victim to ransomware attacks through email delivery. Ransomware attacks can happen under the radar where most companies will not notice, until it is too late. After an attack, most companies never fully regain all the data that they’ve lost and lose confidence in their ability to prevent future attacks.

How has the threat of ransomware been evolving in 2016? And where are things headed? In 2016, $209 million was paid to ransomware criminals. Looking into the next year the FBI estimates over $1 billion source of income for cyber criminals. Due to the success of high-profile, high-demand attacks such as the $17,000 ransomware attack on Hollywood Presbyterian Medical Center in Feburary.

More and more criminals are looking to get with the “Ransomware” trend. Attacks are increasing, ransom demands are increasing and the techniques are evolving. Regardless of a “criminal” technical knowledge, groups have established ransomware-as-a-service models, allowing anyone to be able to use their software. And now we're seeing pyramid schemes where infected users are offered a decryption key to unlock their data if they pass along their infection to others. Due to the increase in ransomware attacks, it is still believed that preventative measures are still lacking.